SPX to divest air filtration product line

SPX to divest air filtration product line

NEWS/EXCHANGE RATES SPX to divest air filtration product line S PX Corp has committed to a plan to divest its air filtration product line, which wa...

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NEWS/EXCHANGE RATES

SPX to divest air filtration product line

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PX Corp has committed to a plan to divest its air filtration product line, which was previously reported in its Flow Technology segment. It is expected that a sale will be completed in the first half of 2008. As a result of the planned divestiture, the company recorded a net charge of US$11.0 million during the third quarter to “Loss on disposition of discontinued operations, net of tax” in order to reduce the net assets to be sold to their estimated realizable value. For further information visit www.spx.com

conditions for successful completion of the offer. The company intended to have a minimum of 25% free float following completion of the IPO which was expected to be completed in December 2007. The proceeds were to be used for general corporate purposes as well as to fund its equity investment in a new project in Hadera, Israel. IDE is a leader in both thermal and seawater reverse osmosis desalination. It has a presence in over 40 counties worldwide with strong presence in key growth regions such as China, India, Israel, Australia, Latin America and the USA. The company has over 370 installed units designed, supplied and contracted to date, along with four decades of research and development experience. IDE had 2006 revenues of US$70.7 million, with a gross profit of US$22.2 million. For further information, visit www.ide-tech.com

IDE Technologies postpones London listing

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ess than two weeks after announcing plans for an initial public offering (IPO) and listing of its ordinary shares in the form of global depositary shares (GDSs) on the London Stock Exchange, Israelbased water desalination company IDE Technologies Ltd has decided to postpone the London listing due to prevailing global market conditions. IDE and its shareholders will however continue to review the suitability of the market

CUNO Foodservice becomes 3M Water Filtration

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UNO Foodservice is rebranding its product line under a new name, 3M Water Filtration. The new name is effective immediately, while the new look is slated to unfold over the next few months. 3M acquired CUNO Inc in 2005.

For further information, visit www.cunofoodservice. com

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